Dynamic pricing · 2 May 2022What is Dynamic Pricing and why do I need it (2021)?
Dynamic Pricing means selling the same product at different prices based on the dynamics of the market. That is why it is also known as real-time pricing, surge pricing or time-based pricing.
The idea behind Dynamic Pricing is relatively simple. The price of a product or service depends on supply and demand. Put simply, if demand rises and supply stays the same, people are willing to pay more. You can calculate the optimal price to maximise your revenue.